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Mortgage Refinancing

Should You Refinance Your Mortgage?

When mortgage interest rates fall, refinancing becomes an attractive option for many homeowners, but there other things to consider.

During the past few years, record numbers of Americans have refinanced their home
mortgages as a result of historically low interest rates. This calculator is designed
to help you determine whether you should consider refinancing your mortgage.

Fixed costs could include fees for items such as the appraisal, notary, inspections, and recording fee.

Your Results

The results below show the estimated cost of refinancing, your current and refinanced
mortgage payment amount, the monthly savings, and the amount of time it will take
you to recoup the costs of refinancing. If you plan to sell your home before you
recoup the cost of refinancing, it may not be worthwhile. However, if you plan to
stay in your home beyond that time, refinancing could possibly save you a substantial
amount of money.

Total estimated refinance costs:

$0.00

Current monthly payment:

$0.00

Estimated monthly payment (refinanced):

$0.00

Monthly savings:

$0.00

Break even (in months) to recover refinancing costs:

0

The calculation above assumes the refinance costs are not added to the new loan.
This hypothetical example assumes your mortgage is subject to refinancing.

The graph below illustrates the difference between your current mortgage and the
mortgage you are considering. You can see what the balance and payoff time would
be for each mortgage. Although your monthly payments and overall expenses may be
reduced if you refinance, the term of your payments may be longer. For example,
if you have been paying on your current 30-year mortgage for five years and you
refinance a new 30-year mortgage, you will be making payments for an additional
five years.

Projected Refinance Costs

The calculation above assumes the refinance costs are not added to the new loan.
This hypothetical example assumes your mortgage is subject to refinancing.

This hypothetical example is used for illustrative purposes only. Actual results will vary.

The information in this calculator is not intended as tax or legal advice, and it
may not be relied on for the purpose of avoiding any federal tax penalties. You
are encouraged to seek tax or legal advice from an independent professional advisor.
The content is derived from sources believed to be accurate. Neither the information
presented nor any opinion expressed constitutes a solicitation for the purchase
or sale of any security.

Mark Santangelo is a Registered Representative of and offers securities products & services through Purshe Kaplan Sterling Investments Member FINRA/SIPC, a registered broker-dealer. In this regard, this communication is strictly intended for individuals residing in the states of New York, New Jersey, Pennsylvania, Florida, North Carolina and Ohio. No offers may be made or accepted from any resident outside the specific state(s) referenced.

Mark Santangelo is also separately registered as an investment adviser representative under Titan Financial Services, LLC, a registered investment advisor, offering advisory services in the state of New Jersey in which the RIA is registered. As such, these services are strictly intended for individuals residing in New Jersey.

NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE, INCLUDING LOSS OF PRINCIPAL. NOT INSURED BY ANY STATE OR FEDERAL AGENCY.

IMPORTANT CONSUMER INFORMATION:

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For information concerning the licensing status or disciplinary history of broker-dealer, investment adviser, BD agent, or IA rep, a consumer should contact his or her state securities law administrator.